Public Employees Retirement Association of Colorado Sells 9,756 Shares of Carrier Global Co. (NYSE:CARR)

Public Employees Retirement Association of Colorado lessened its holdings in Carrier Global Co. (NYSE:CARR) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 115,051 shares of the company’s stock after selling 9,756 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Carrier Global were worth $6,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. McClarren Financial Advisors Inc. raised its stake in Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Carrier Global in the fourth quarter valued at approximately $25,000. EdgeRock Capital LLC bought a new stake in Carrier Global in the fourth quarter valued at approximately $27,000. Criterion Capital Advisors LLC bought a new stake in Carrier Global in the fourth quarter valued at approximately $32,000. Finally, United Community Bank bought a new stake in Carrier Global in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 1.0 %

NYSE CARR traded up $0.66 on Monday, reaching $67.43. The company had a trading volume of 2,075,594 shares, compared to its average volume of 4,455,559. The stock has a market capitalization of $60.76 billion, a P/E ratio of 46.83, a P/E/G ratio of 2.60 and a beta of 1.32. The company’s fifty day moving average is $64.53 and its 200 day moving average is $59.94. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the firm posted $0.79 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be given a $0.19 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.13%. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Transactions at Carrier Global

In related news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the topic of several analyst reports. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Wells Fargo & Company upped their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Royal Bank of Canada restated an “outperform” rating and set a $72.00 price target on shares of Carrier Global in a report on Friday. Robert W. Baird cut their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $66.86.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.